If you are having trouble making your mortgage payments, please contact me as soon as possible. I can send you a pamphlet from the National Association of REALTORS in regards to this situation with possible alternatives for you. You do not want to go through a foreclosure. This will be devastating to you emotionally and financially. We can set up a meeting to go over these alternatives to help you save your house and your credit.
If the only option is to sell your house, don't wait. It is better to sell than to go through a foreclosure because:
1. You can hopefully profit from any equity that remains in the home.
2. It will be easier to qualify for credit in the future and to buy another home.